Download Crash Course: The American Automobile Industry's Road from by Paul Ingrassia PDF

By Paul Ingrassia

With an up to date Afterword by way of the author.

This is the epic saga of the yank motor vehicle industry's upward thrust and loss of life, a compelling tale of hubris, neglected possibilities, and self-inflicted wounds that culminates with the president of the us ushering of Detroit's titanic 3 automobile companies--once proud symbols of prosperity--through financial ruin. With exceptional entry, Pulitzer Prize winner Paul Ingrassia takes us from manufacturing unit flooring to small-town dealerships to Detroit's boardrooms to the White condo. Ingrassia solutions the massive questions: used to be Detroit's self-destruction inevitable? What have been the most important turning issues? Why did eastern automakers deal with American employees greater than the yankee businesses themselves did? whole with a brand new Afterword supplying clean insights into the ongoing upheaval within the vehicle industry--the travails of Toyota, the revolving-door administration and IPO at normal cars, the unforeseen development at Chrysler, and the Obama administration's stake in Detroit's recovery--Crash path addresses a serious query: the United States bailed out GM, yet who will bail out the United States?

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In either case, I’d suggest that you hold judgment until you finish this book. no more mr nice guy | 15 Consequently, neoclassical economics, far from being the font of eco­ nomic wisdom, is actually the biggest impediment to understanding how the economy actually works – and why, periodically, it has serious breakdowns. If we are ever to have an economic theory that actually describes the economy, let alone one that helps us manage it, neoclassical economics has to go. Revisionism Yet this is not how neoclassical economists themselves have reacted to the crisis.

Yet much of conventional no more mr nice guy | 29 economic theory is illogical. Those who occupy the center stage of modern politics should find a firmer foundation for their politics than an illogical economic theory. The same comment, of course, applies to those at the left-wing end of the political spectrum, who base their support for radical social change on conventional Marxian economics. As I argue in Chapter 17, conventional Marxism is as replete with logical errors as is neoclassical economics, even though Marx himself provides a far better foundation for economic analysis than did Walras or Marshall.

As I explain in the next chapter, this applies to the simplest and in many ways most fundamental concept in neoclassical economics – the ‘downwardsloping demand curve’ that is one half of its iconic ‘supply and demand’ analysis of markets. e. that an individual will buy more units of a com­ modity if its price falls – but the attempt to prove that the market demand curve also sloped downwards failed. However, textbooks writers are either 20 | two truly ignorant of this failure, or delude themselves about the failure, or deliberately obfuscate it.

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